Nested Finance AMA Summary Recap with Shin Chan Community
We held a live AMA with Founder, Rudy Kadoch from Nested Finance on 29 March 10:00 PM (UTC+8). Here’s the recap for those who missed it.
Introduction
Mika | Shin Chan: Good evening everyone, we are pleased to have Nested Finance Founder, Rudy
before we start our ama can u briefly introduce yourself. Like your background, experience, and journey in Crypto space.
Rudy| Nested Finance: Everything started in late 2016 when I contracted a student loan only to invest all of it in Ethereum. That was my gateway to web3 and I never left the space since. It was in 2021 that I decided to stop my studies in artificial intelligence and data science — in one of the most prestigious French engineering schools — to launch Nested. The company grew from 3 wishful founders to 15 full-time employees, raised USD 7.5M from some of most prominent angels and institutional investors, and launched a decentralized social trading platform to incarnate the idea of SocialFi — all that in barely a year.
I also have some profesionnal experience in market research at Ledger as well as in Fusion — Anyswap is built on the top of Fusion.
Thong Tran | Nested Finance: Hi everyone, my name is Thong, I am with Nested Growth team. I have been in Crypto since 2018 and have worked with Rudy at Fusion Protocol from the beginning of their ICO.
Then I have worked in many crypto projects including Financial Layer 1 DCRM Fusion, Cross-chain Anyswap, Cardashift,…
Mika | Shin Chan: Can you briefly describe Nested Finance?
Rudy| Nested Finance: Nested is a game changing social trading platform aimed at democratizing DeFi to facilitate financial connectivity for the crypto community.
Multi-chain and built to scale, Nested allows users to build a profile and then create, copy, manage, update, send and share financial portfolios.
These financial portfolios — the ‘Nested portfolios’ — are represented as non-fungible tokens (NFTs) reflecting sets of tokens.
Here is an example of a Nested portfolio, you can create one in 30 seconds or replicate it in 15 seconds:
https://app.nested.fi/explorer/bsc:771/s5kh
If you create or replicate a portfolio on Nested, you will get your own NestedNFT and this is the only token you will be managing.
Basically, there are 2 steps to replicate a portfolio. It’s really easy to use and fully decentralized.
https://docs.nested.fi/instructions-for-use/how-to-replicate-a-portfolio
Thong Tran | Nested Finance: For crypto and DeFi newbie, Nested allows them to explore profiles and portfolios and replicate favored strategies. On the other hand, for more experienced DeFi users, influencers or community leaders, Nested allows to showcase portfolios, results and earn royalties every time said portfolio is replicated.
Nested’s team has focused on building a user-friendly-first app, while preserving the highest level of decentralization and security.
We basically want to socialize DeFi — making it more user-friendly and accessible to everyone
Rudy| Nested Finance: You can also create a user profile on Nested, look at mine: https://app.nested.fi/rudy
All my portfolios are attached to my profile and you can follow me :)
Mika | Shin Chan: Do u have any upcoming news or events that the community need to keep an eye on?
We just came back from the Avalanche summit! It was an amazing event!
Rudy| Nested Finance: About upcoming news and events: the airdrop, our launch on Ethereum, Optimism, Fantom, Celo and Arbitrum, as well as many other partnerships with big DeFi projects!
Twitter: https://twitter.com/NestedFi
Telegram Channel: https://t.me/NestedFinanceChannel
Join Discord: https://discord.com/invite/VW8ZZsACzd
Link Tree: https://linktr.ee/nestedfi
Follow us on social network to keep updated with our latest news!
Twitter Section Begins:
Q1. A new partnership spotted — Nested is delighted to have 0x as their partner. So can i have this chance to ask you why do you think #OX is the right ally for Nested to this kind of battle? How will you together make #Nested the best user experience possible on the market?
Rudy| Nested Finance: We chose 0x as a solution because one year ago there were the only one talking about a multichain solution while other DEXes aggregator were only on Ethereum.
We also chose 0x for many other technical reasons explained in the article below.
Thong Tran | Nested Finance: https://twitter.com/NestedFi/status/1507045609978707975
Q2. Will stake rewards be distributed weekly or daily?
How much time do I have to lock our NST tokens, minimum and maximum, to get stake rewards? How do I join the Staking program?
Rudy| Nested Finance: We cannot communicate a lot about the token as it’s still far away from now.
There will be staking opportunities of course,but we cannot disclose details at this stage.
Q3. What is the relationship between Nested and Solana? What projects do you expect to develop together with this important blockchain? What events will users be able to see in the near future thanks to this partnership?
Rudy| Nested Finance: We are exploring Solana right now, it’s true. We have a call this week with the Neon team to see if we will go through their solution or develop our own and native Solana dApp in Rust.
Q4. According to your website, investors can replicate the best performing trader using Nested network;however,how can you be sure that those traders are trustworthy?Even in times of market volatility,how can those traders assist crypto newbies in increasing the value of their asset?
Thong Tran | Nested Finance: All traders have their reputation. For example, if SBF or Su Zhu shares a portfolio, then you will replicate it because you know they are reliable. We all have our crypto gurus and know who are reliable.
Today, we have the profile feature ready. You can see the historic of each trader, and their average performance. Also, you can associate your Nested profile with your Twitter profile. You then know who you’re replicating
Q5. You said that #Nested is The first DeFi social trading platform based on financial NFTs. I think Nested has a very fresh concept in the NFT world, Howver, the competition in the NFT market is very fierce. Are you worried about competitors going to compete with you?
Rudy| Nested Finance: We are not worried at all!
Web3 is a community-centric concept. We want to incarnate the idea of SocialFi by reaching out as many as possible. SocialFi is a young market, and Nested’ user experience cannot be equalized. What we are proposing is unique.
Telegram Live AMA:
Q1. How do you differ from TokenSets?
Thong Tran | Nested Finance: From a technical standpoint:
- Cost: creating a portfolio is 10 times cheaper on Nested than deploying a set on TokenSets.
- Multi-chain: 0x (decentralized liquidity protocol), and our flexible architecture, allows us to scale on every other Blockchain and Layers out there. While TokenSets is built for only Ethereum.
-Royalties: this is a feature for experienced traders and influencers. The bigger the community an influencer has, the more royalties they stand to receive. The platform allows them to monetize their community with a single link (their Nested Finance portfolio).
Please read more about this here: https://docs.nested.fi/common-questions/how-are-we-different-from-tokensets
Q2. As said, NestedFi focuses on UI/UX .
How do you plan to increase interaction with new users and with users outside the crypto space?
Does it mostly happen through user-focused product development?
Thong Tran | Nested Finance: Through Nested, we basically want to give people the ability to share and monetize their knowledge, strengthening communities interested in crypto and facilitating financial connectivity. In two words: Socialize DeFi.
The plan here is to educate the market about how to incorporate Nested to their day to day social interaction on the web. For example, a DeFi influencers can review the top coins on Avalanche blockchain and share his portfolio by Nested with those coins.
Q3. Can we add our Twitter and telegram accounts to our portfolios?
Can you explain how users will get portfolio updates? How to make instant updates?
Thong Tran | Nested Finance: When you copy someone NestedNFT Portfolio, you don’t just have the same portfolio with them. What you actually gain from that is the ability to follow a winning strategy. Everytime the trader make any moves, you can choose to get it from him/her.
For example, if a Tweeter trader make 3 portfolio of small cap, mid cap and large cap, he or she will want to move their funds accordingly to the market situations. Then if you follow that person you can feel the market movements and get less risks for your portfolio.
Q4. We will be able to share our Nested Profile on our social media account. Well, can we integrate our Nested account with our social media accounts such as Twitter and Instagram?
Thong Tran | Nested Finance: You can create your own profile on Nested platform as well as connect your Tweeter and Telegram so that you can build the credibility of someone who understand Crypto Market and DeFi Space
You can see Rudy’s profile as an example here
https://app.nested.fi/Rudy
Q5. As a trader, one of the aspects of Nested that caught my attention is the rewards or royalties that I will receive every time my portfolio is copied, so can you explain how this works? What do my royalties depend on? How can I promote my portfolio? How does a user find it?
Thong Tran | Nested Finance: As a trader you must have some bread and butter trading strategy. In order to grow the number of followers you must share with them some simple yet effective trading patterns. Whether many trader share there ideas thru a community on Telegram, Twitter, TradingView or YouTube, you can now allow your followers to follow your every moves by 1 NestedNFT Portfolio link.
you can simply find a Portfolio link here:
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